Life Insurance

No matter your age, planning for your death can feel scary and morbid. So, it’s no wonder Canadians are procrastinating on tasks like end-of-life planning. According to Willful’s 2025 ‘The Great Delay’ study, only 30% of Canadians have discussed a financial emergency plan with their family.

Life insurance is a core element of long-term financial planning for many Canadian families. It provides a financial safety net for your loved ones by paying a tax-free death benefit upon your passing.

Purchasing life insurance can reduce the financial burden on your loved ones and help build and transfer wealth, but are there any tax implications you should know about?

If you’ve ever taken out a mortgage, car loan, or line of credit in Canada, you may have come across one final question before wrapping up: Do you want creditor insurance?

Life insurance is a valuable tool to ensure your loved ones are financially cared for after you die. It can also be used as a savvy financial strategy for building and transferring wealth while you’re living.

While holding your sleeping baby in the delivery room, you marvel at their newfound life, and think about the world that awaits them. It’s a precious moment, one you’ve spent months preparing. An entire life is now dependent on you, one who will be affected by your every decision.